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Guideline Value

Corporate

Guideline Value for Teacher's Colony (Lakshmipuram)

₹2450/sq.ft.

The guideline value for Teacher's Colony (lakshmipuram) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2450 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 7% change. The land classification is Industries Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Industries Type - I
History
Period Guideline Value
From 1-7-2024 ₹2450 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Teacher's Colony (lakshmipuram)

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Teacher's Colony (Lakshmipuram) guideline value

The current guideline value for Teacher's Colony (Lakshmipuram) is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Industries Type - I.

How the guideline value of Teacher's Colony (Lakshmipuram) has changed

The guideline value for Teacher's Colony (Lakshmipuram) has seen several revisions over the years. Starting with the 2012 revision, the value was set at Rs 2,000 per sq.ft. This decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decrease of 23%. However, the value increased significantly in the 2023 revision to Rs 2,300 per sq.ft, and further rose to Rs 2,450 per sq.ft in the 2024 revision, reflecting a 7% increase.

Overall, from 2012 to 2024, the guideline value has increased by 23%. The 2017 to 2023 revision saw a substantial increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Teacher's Colony (Lakshmipuram)'s 2024 figure above this median.

Stamp duty and registration fee for property in Teacher's Colony (Lakshmipuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty, charged at 7%, would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total fees to Rs 2,20,500. Duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teacher's Colony (Lakshmipuram)?

The Sub Registrar Office that covers Teacher's Colony (Lakshmipuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property’s value.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value for Teacher's Colony (Lakshmipuram)?

The current guideline value for Teacher's Colony (Lakshmipuram) is Rs 2,450 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2012 revision, the guideline value has increased from Rs 2,000 per sq.ft to Rs 2,450 per sq.ft in 2024, reflecting an overall increase of 23% over this period.

What is the land classification for Teacher's Colony (Lakshmipuram)?

Teacher's Colony (Lakshmipuram) is classified as Industries Type - I under the land classification system in Tamil Nadu.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 24,50,000, the stamp duty would be Rs 1,71,500, and the registration fee would be Rs 49,000, totaling Rs 2,20,500.

Which office handles registrations for properties in Teacher's Colony (Lakshmipuram)?

The Madhavaram Sub Registrar Office handles registrations for properties in Teacher's Colony (Lakshmipuram), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.